4xForecaster

Target Hit Dead-On ... Moving On | $EUR $AUD #ECB #RBA #Forex

FX:EURAUD   Euro Fx/Australian Dollar
423 1 4
Friends,

Last Wednesday, June 04th, i posted two bearish targets for this chart, nmaley:

1 - TG-1 = 1.43744 - 04 JUN 14

and

2 - TG-Lo = 1.40384 - 04 JUN 14.

For a detailed technical commentary of the predictive analysis and forecasting, see the original chart/text here:
Wedge & Predictive/Forecast Model Interplay | $EUR $AUD #Forex
.

As of today, the outlook remains bearish and the lower target remains intact and in force. As defined in that former analysis, the "Lo/Hi" targets represent lesser probability events, but IF and ONCE price does reach these levels, it will have a tendency to represent a reversal.

While the target remains valid, I expect some consolidation to occur. For this reason, I will turn the Directional indicator to "Neutral".

Cheers,

David Alcindor
Predictive Analysis & Forecasting


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Twitter: @4xForecaster
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12 AUG 2014 - Update:

From Twitter:
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$EURAUD Update: TG-1 hit since June 04th forecast; TG-Lo remains pending

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snapshot


via @tradingview | $EUR $AUD #forex
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snapshot



Traders,

TG-Lo has gained added probability of getting hit at this point - A move above 1.46011 would lessen the chance of a target hit at any lower level, though, so I would use that value as a sine quo non condition.

Cheers,


David Alcindor
+1 Reply
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